TechBizWebTechBizWeb

    Subscribe to Updates

    Get the latest news about Technology and Business from all around the web..

    What's Hot

    Deutsche Bank Sees Bitcoin Touch $28,000 By 2022 End, But Warns of Risks Ahead

    July 1, 2022

    The halftime show

    July 1, 2022

    Grayscale Goes to Court After SEC Rejects its Proposed ETF Bid

    July 1, 2022
    Facebook Twitter Instagram
    • About Us
    • Privacy Policy
    • Guest Post
    • Terms
    • Contact
    Facebook Twitter Instagram
    TechBizWebTechBizWeb
    Subscribe
    • Home
    • Technology

      Elon Musk’s “Teslas in Tunnels” Las Vegas project is still happening, and here’s the first station

      July 1, 2022

      Meta warns employees of “serious times” in internal memo listing key product bets

      July 1, 2022

      The Supreme Court just took away an EPA tool to fight climate change — what happens next?

      July 1, 2022

      New York denies air permit to Bitcoin mining power plant

      July 1, 2022

      GM’s reportedly only making about 12 Hummer EVs a day

      July 1, 2022
    • Business
    • Cyber Security

      Auston Davis named CISO at Versant Health

      June 30, 2022

      Lessons learned from slew of recent data breaches

      June 30, 2022

      Cybersecurity from the inside out — Guarding against insider threats

      June 30, 2022

      We need the Foreign Intelligence Surveillance Act more than ever

      June 30, 2022

      IC3 issues warning on deepfake use in remote work applications

      June 29, 2022
    • Blockchain
    • Vulnerabilities
    • Social Engineering
    • Malware
    • Cyber Security Alerts
    TechBizWebTechBizWeb
    Home»Business»Credit Suisse banker removed from role for unauthorised messages to clients
    Business

    Credit Suisse banker removed from role for unauthorised messages to clients

    June 14, 2022Updated:June 14, 2022No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp
    Share
    Facebook Twitter LinkedIn Pinterest Email

    A senior Credit Suisse investment banker was removed from his position earlier this year after he was found to have used unapproved messaging applications with clients, according to people with knowledge of the matter.

    Anthony Kontoleon, known as “AK” to colleagues, was Credit Suisse’s global head of equity capital markets syndicate in New York and left his position in April. He is set to depart the bank, where he has worked for 28 years.

    The action taken by Credit Suisse comes amid a US government investigation of record-keeping practices across Wall Street.

    Credit Suisse made the decision to remove him from his role after an audit of several dozen of its bankers found that Kontoleon had used personal messaging applications to communicate with clients, the people added. The audit did not find that Kontoleon had shared any inappropriate information.

    In a memo to staff in April, Credit Suisse’s global head of equity and debit capital markets, David Hermer, said Kontoleon had informed him that he would be leaving “to pursue other opportunities”.

    Kontoleon declined to comment and referred any questions to the bank. Credit Suisse declined to comment.

    Kontoleon’s exit follows a string of scandals at Credit Suisse in the past two years, including a $5.5bn trading loss from lending to family office Archegos Capital Management and the bank’s recommendation that clients invest in funds tied to Greensill Capital, a supply chain finance company that later collapsed.

    Credit Suisse in March disclosed that it was co-operating with a Securities and Exchange Commission investigation into its US subsidiary’s compliance with record-keeping requirements related to business communications sent over unapproved messaging channels.

    Credit Suisse management hopes that a high-profile departure such as Kontoleon’s will be seen by US regulators as a sign that the bank is taking the matter seriously, one of the people with knowledge of the matter said.

    JPMorgan Chase in December agreed to pay $200mn in fines to the SEC and the Commodity Futures Trading Commission for failing to keep records of staff communications on personal devices, in an action that spooked many Wall Street banks.

    At Credit Suisse, Kontoleon connected private companies with public market investors, and worked with public companies when they wanted to do block trades or secondary transactions. He worked on some of the bank’s biggest stock market listings, including initial public offerings for US ride-hailing company Lyft, Chinese ecommerce giant Alibaba and Google.

    His departure underscores the extent to which a record-keeping investigation on Wall Street is creating anxiety inside large banks, where text messaging apps such as WhatsApp have become commonplace.

    Following the JPMorgan fine, other lenders including Goldman Sachs and HSBC disclosed that US regulators were looking into whether their bankers improperly used personal messaging apps to do business.

    Syndicate desks, such as the one where Kontoleon worked, are attracted to text messaging for quick and easy communication because they are in constant dialogue with hedge fund and asset management clients about stock sales and market activity.

    The practice became more common when bankers started working from home during the Covid-19 crisis.

    “During the pandemic people got so accustomed to just texting outside of the controlled environment,” said one senior Wall Street banker.

    Bankers at companies including JPMorgan and UBS have started to use an app called Movius on their phones, which records all calls and logs text messaging.

    In a further sign of Credit Suisse’s worries over the record-keeping issue, the bank in December asked its employees to let it access their personal mobile phones and other devices if they used them to communicate with clients or colleagues.

    Additional reporting by Arash Massoudi in London

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    The halftime show

    July 1, 2022 Business

    Xi Jinping insists Hong Kong must be governed by patriots on 25th anniversary of handover

    July 1, 2022 Business

    It’s a pivotal day for US climate policy

    July 1, 2022 Business

    The ‘quislings’ who helped Beijing crush Hong Kong’s pro-democracy campaign

    July 1, 2022 Business

    France ready to bypass Hungary for global corporate tax deal

    July 1, 2022 Business

    Russian forces withdraw from Snake Island

    July 1, 2022 Business
    Editors Picks

    The halftime show

    July 1, 2022

    Grayscale Goes to Court After SEC Rejects its Proposed ETF Bid

    July 1, 2022

    Xi Jinping insists Hong Kong must be governed by patriots on 25th anniversary of handover

    July 1, 2022

    Elon Musk’s “Teslas in Tunnels” Las Vegas project is still happening, and here’s the first station

    July 1, 2022
    Trending Now

    The Supreme Court just took away an EPA tool to fight climate change — what happens next?

    By techbizweb

    MAS Faults Three Arrows Capital for Sharing False Information

    By techbizweb

    France ready to bypass Hungary for global corporate tax deal

    By techbizweb

    https://www.nationalsportsacademy.com

    slot gacor hari ini

    http://www.inadesfo.org/

    http://www.eueomgbissau.org/

    http://www.congo-mai-mai.net/

    http://www.angelesdelafrontera.org/

    http://fifaworldcup2018schedule.com/

    http://tony4gtrmcr.co.uk/

    http://www.standrewsagreement.org/

    http://www.bob-russell.co.uk/

    http://davidmulholland.co.uk/

    http://railwayhotelenniskillen.com/

    http://www.fantasysportstrades.com/

    http://www.rainleaf-flooring.com

    http://mothersagainstguns.org/

    http://ma-coc.org/

    slot online

    http://www.paradoxmag.com/situs-judi-slot-online-gampang-menang-2021/

    http://www.paradoxmag.com/situs-judi-slot-online-terbaru-2021/

    http://slot-terbaru.net/

    Slot Gacor

    Slot Online

    Situs Slot Gacor

    http://www.appdexterity.com/

    https://cars4kids-deutschland.de/

    https://www.stretchingculture.com/

    https://www.b-123-hp.com/slot-gacor/

    https://denzstaffing.nl/

    https://ezbbqcooking.com/slot-gacor/

    https://www.mbahelp24.com/slot-gacor

    https://minhtanstore.com/slot-jackpot-terbesar/

    https://njbpusupplierdiversity.com/slot-gacor-gampang-menang/

    https://www.floridaspecialtycropfoundation.org/slot-gampang-menang/

    https://childrenscornerpreschool.org/slot-gacor-gampang-menang/

    https://cryptoquoter.com/slot-online-terbaik/

    https://alorkantho24.com/slot-gacor/

    https://ellas.xyz/slot-gacor/

    https://it.dougamatome.xyz/slot-online/

    https://www.daltercume.com/slot-gacor/

    https://josi-ana.dougamatome.xyz/slot88/

    https://josi-ana.dougamatome.xyz/slot-gacor/

    https://fastobserver.com/slot-jackpot-terbesar/

    https://www.planetexperts.com/slot-gacor/

    https://bfsolution.group/slot-bet-kecil/

    https://rustleva.co/slot/

    https://bfsolution.group/slot-bet-kecil/

    https://www.hotelcalimareal.com/togel-online/

    https://anime-game.dougamatome.xyz/slot-gacor-gampang-menang/

    https://anime-game.dougamatome.xyz/togel-online/

    https://bourbonbarrelfoods.com/slot/

    http://suneo39.wp.xdomain.jp/slot/

    https://techbizweb.com/slot-gacor/

    https://www.generalcatalyst.com/18-daftar-slot-gacor-terbaik-gampang-menang-jackpot-hari-ini/

    https://www.hotelcalimareal.com/slot-online/

    https://www.blockgates.io/slot-gacor/

    https://l12.com.br/slot-gacor/

    slot paling gacor

    https://www.donalds-hobby.com/slot-online/

    https://thecryptodirt.com/slot-gacor-hari-ini/

    http://iseta.edu.ar/aulavirtual/app/upload/users/1/1205/my_files/sbobet.html

    http://escuelavirtual.mincit.gov.co/app/upload/users/1/194/my_files/slot.html

    https://www.dev.medecinesfax.org/courses/JUDICASINO/document/slot.html

    http://www.e-archivos.org/cursos/courses/JUDICASINO/document/slot-gacor.html

    http://iesma.com.br/ead/main/upload/users/4/447/my_files/slot.html

    https://www.fundacoop.org/chamilo/app/upload/users/1/1185/my_files/slot.html

    https://fata-aatf.org/eskola/main/upload/users/3/31/my_files/slot.html

    https://uancv.edu.pe/ofinvestigacion/app/upload/users/3/328/my_files/slot-terlengkap.html

    https://micost.edu.my/EL/app/upload/users/2/209/my_files/slot-gacor.html

    https://www.academiacoderdojo.ro/elearningdev/app/upload/users/2/2442/my_files/slot-online.html

    http://campus-cidci.ulg.ac.be/courses/JUDICASINO/document/slot-termurah.html

    https://www.escueladerobotica.misiones.gob.ar/aula-ste/courses/LIVECASINO/document/slot-tergacor.html

    http://ccdipeepccqqfar.usac.edu.gt/chamilo/app/upload/users/3/358/my_files/slot-online.html

    https://cunori.edu.gt/campus/app/upload/users/7/7334/my_files/slot-online.html

    http://u-rus.com.ar/aula/app/upload/users/1/1322/my_files/slot.html

    http://icrodarisoveria.edu.it/chamilo/app/upload/users/1/1855/my_files/slot.html

    https://iestpliliagutierrez.edu.pe/clarolgm/courses/CASINO/document/slot.html

    http://pva.cobach.edu.mx/app/upload/users/7/7379/my_files/slot.html

    http://www.imb-pc-online.edu.gt/PL/app/upload/users/3/373/my_files/slot.html

    http://avcs.upeu.edu.pe/main/upload/users/3333/my_files/slot.html

    https://chamilo.fca.uas.edu.mx/app/upload/users/1/11186/my_files/slot-online/

    TechBizWeb
    Facebook Twitter Instagram Pinterest Vimeo YouTube
    • Home
    • Guest Post
    • About Us
    • Privacy Policy
    • Our Authors
    • Terms and Conditions
    • Contact
    © 2022 Tech Biz Web. Developed by Sawah Dev.

    Type above and press Enter to search. Press Esc to cancel.